Well after the close Monday, we did not get much of push up to help repair the damage of last week. On the bright side, no more damage was done. Now the bad, looking at the weekly chart on the left, if we had to make a decision to exit the C-fund today the answer would be to bailout. We are clearly below the 50 week ma and the RSI is below 50. The chart on the right is the daily and we stayed above the 50% retracement as I was hoping, but it really isn’t that encouraging. We need a few days with a 1.5% or 2% gain to get us back on track.
Caution is the word. Use much caution.
I’m still long BIDU, MELI, and TGP.
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